Rx-to-OTC Switches Market is Likely to Witness Steady Growth by 2031Posted by Ganesh Shinde on April 7th, 2023  As per a study by FMI, the global Rx-to-OTC Switches Market sales is expected surpass evaluation of US$ 58 billion with a CAGR of 5.3% during the forecast period of 2021 and 2031. The market is estimated to reach US$ 35 billion in 2021, exhibiting a year on year growth rate of 5.2% during 2021. Sales rose at 1.5% CAGR between 2016 and 2020. According to a study by FMI, allergy and respiratory drug segment will dominate the global market, accounting for a share of 26.7% in 2021. Demand for improved access to a wide range of medicines over the counter (OTC) for treating common ailments such as cough, cold, flu, headaches, and others will continue aiding sales in the market. The shift from Rx-to-OTC is gaining momentum as OTC medicines are cost effective and deliver first line treatment for numerous common illnesses. This has resulted in reduced doctor visits, subsequently increasing opportunities for sales in the market. The transition of proven prescription drugs to nonprescription, over the counter status for treating common diseases is a highly regulated and scientifically rigorous process but it is widely gaining momentum as it reduces massive burden from the healthcare facility. For a medicine to be granted OTC status, it must adhere to safety margin, bear understandable labelling, and must be effective. These restrictions might hinder or slow down the process of manufacturing and production in the future. However, wider adoption of medicines and products have magnified the demand for Rx-to-OTC products in the global market. Key players operating in the global Rx-to-OTC market as profiled by FMI are
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